Examples of Initial Tender Period in a sentence
This Section 12.2 applies exclusively to Unaffiliated Schering Shareholders resident in the United States who tendered their Schering Shares into this Mandatory Offer through the U.S. Settlement Agent during the Initial Tender Period and wish to exercise their rights of withdrawal.
Under the conditions set forth in Section 12 of this Offer Document, Unaffiliated U.S. Securityholders who tender their U.S. Securities through the U.S. Settlement Agent during the Initial Tender Period may withdraw their tendered U.S. Securities at any time prior to the expiration of the Initial Tender Period.
The U.S. Settlement Agent will then cause the transfer to the Bidder’s account established for such purpose with Commerzbank AG, Frankfurt am Main of the Schering Shares so received in its account at BHF Bank Aktiengesellschaft, Frankfurt am Main, in the case of Schering Shares tendered during the Initial Tender Period, upon expiration of such Initial Tender Period and, in the case of Schering Shares so received during the Subsequent Tender Period, within three U.S. Working Days after such receipt.
Schering Securityholders who have not tendered their Schering Securities in this Mandatory Offer by the end of the Initial Tender Period may still tender their Schering Securities in this Mandatory Offer from the expiration of the Initial Tender Period until January 24, 2007, midnight Frankfurt Local Time / 6:00 p.m. New York Local Time, respectively, unless thereafter extended as described below.
This initial period for tendering Schering Securities in this Mandatory Offer is referred to in this Offer Document as the “Initial Tender Period.” The earliest date on which the Offer Consideration will be paid in respect of Schering Shares tendered during the Initial Tender Period by such holders will be on January 9, 2007, after the expiration of the Initial Tender Period.
The U.S. Settlement Agent will then cause the transfer to the Bidder’s account established for such purpose with Commerzbank AG, Frankfurt am Main of the Schering Shares so received in its account at BHF-Bank Aktiengesellschaft, Frankfurt am Main, in the case of Schering Shares tendered during the Initial Tender Period, upon expiration of such Initial Tender Period and, in the case of Schering Shares so received during the Subsequent Tender Period, within three U.S. Working Days after such receipt.
In accordance with German law, holders of Shares, including those represented by ADSs, will be entitled to tender into the Offer during the Subsequent Tender Period commencing immediately upon expiration of the Initial Tender Period and expiring on January 24, 2007, midnight Frankfurt Time/ 6:00 p.m. New York Time, respectively, unless thereafter extended.
In accordance with German law, holders of Shares, including those represented by ADSs, will be entitled to tender into the Offer during the Subsequent Tender Period commencing immediately upon expiration of the Initial Tender Period and expiring on January 24, 2007, midnight Frankfurt Time/ 6:00 p.m. New York Time, unless thereafter extended.
This Section 12.3 applies exclusively to Unaffiliated Schering ADS Holders who tendered their Schering Shares represented by Schering ADSs into this Mandatory Offer during the Initial Tender Period and wish to exercise their right of withdrawal.